- POSITIVE
Annual Revenue Axiom Gas Engineering Mar-2026 Annual Revenue is Rs 101 Cr which is growth of 12.2% YoY.
- POSITIVE
Annual Net Profit Axiom Gas Engineering Mar-2026 Annual Net Profit is Rs 9 Cr which is growth of 22.0% YoY.
Axiom Gas Engineering was incorporated on August 24, 2007. The company distributes and retails Auto Liquefied Petroleum Gas (LPG) through its network of company-owned and operated Auto LPG Dispensing Stations. It also operates storage and allied infrastructure to support the efficient distribution and supply of Auto LPG
| Bidding Dates |
|---|
| 18 Sep 2026 - 22 Sep 2026 |
| Subscription |
|---|
| 1.37x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹204,000 | 2 | 2 | 2000 | 9.4 M | ₹51 - ₹54 | 72.15 % | ₹479.3 M - ₹507.5 M | RHP DOC |
Axiom Gas Engineering IPO SUBSCRIPTION STATUS
22 Sep '26Total1.37x
Retail Individual Investor1.54x
HNI (NII) Investors3.04x
Qualified Institutional Buyers0.19x
Axiom Gas Engineering IPO overall subscription rate was 1.37 times the total available shares
Axiom Gas Engineering IPO retail subscription rate was 1.54 times in the retail segment
Axiom Gas Engineering IPO non-institutional investor subscription rate was 3.04 times in the non-institutional investor category
Axiom Gas Engineering IPO Qualified Institutional Bidder subscription rate was 0.19 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
22 Sep 2026 (Day 3) | 1.54x | 3.04x | 0.19x |
21 Sep 2026 (Day 2) | 1.26x | 2.31x | 0.14x |
18 Sep 2026 (Day 1) | 0.78x | 1.57x | 0.14x |
Axiom Gas Engineering FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 100.8 | 9.5 | 10.8 | 8.8 | 15.4% |
| FY25 | 89.8 | 7.7 | 8.2 | 5.2 | 14.8% |
| FY24 | 74.5 | 5.7 | 4.7 | -5.8 | 13.4% |
Axiom Gas Engineering IPO SUBSCRIPTION STATUS DETAILS
Axiom Gas Engineering had 9.4 M shares on offer
Axiom Gas Engineering IPO offer price was in the range ₹51 - ₹54
Axiom Gas Engineering IPO minimum Investment was ₹204000
Axiom Gas Engineering IPO issue size was ₹ 479.3 M - ₹ 507.5 M
Axiom Gas Engineering had a minimum lot size of 2000 Shares per application
Axiom Gas Engineering NUMBER OF SHARES ON OFFER
Total9.4 M
Fresh Issue9.4 M
Offer for Sale0
Post Issue Promoter Holding %72.15 %
Axiom Gas Engineering IPO IMPORTANT DATES
| Issue Open Date | 18 Sep 2026 |
| Issue close Date | 22 Sep 2026 |
| Allotment Date | 23 Sep 2026 |
| Refund Date | 24 Sep 2026 |
| Demat Account Credit Date | 24 Sep 2026 |
| Listing Date | 25 Sep 2026 |
| Listing on Exchange(s) | NSE |
| Axiom Gas Engineering Allotment Status | Exchange/ Registrar |
Axiom Gas Engineering IPO subscription opened on 18 Sep 2026, and closed on 22 Sep 2026
IPO allotment for Axiom Gas Engineering was finalized on Wednesday, 23 Sep 2026
IPO listing for Axiom Gas Engineering was on NSE on Friday, 25 Sep 2026
Axiom Gas Engineering IPO LISTING GAINS
| Issue Price (adjusted) | 54.0 |
| Listing Open Price | 54.8 |
| Listing Close Price | 54.0 |
| Listing Gain% | 1.4% |
| Current Gain% | -23.4% |
Axiom Gas Engineering Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axiom Gas Engineering Ltd. | 41.4 | 146.1 | 15.5 | 0.7 | 1.5 | 28.4 | 13.6 | 100.8 | 12.2 | 9.5 | 22 | 2.7 | 22 |
| Indian Oil Corporation Ltd. | 130.4 | 184112.7 | 5.5 | 0.1 | 0.2 | 19.2 | 8 | 788578.4 | 3.5 | 42096.3 | 209.6 | 23.8 | 99.3 |
| Aegis Logistics Ltd. | 1366.7 | 47971.2 | 38.3 | 0.4 | 5.3 | 14.8 | 6.2 | 8659.8 | 24.2 | 898.2 | 35.4 | 35.6 | 88.7 |
| Petronet LNG Ltd. | 293 | 43950 | 10.4 | 0.8 | 1.2 | 17.6 | 14.2 | 44359 | -14.3 | 3912.5 | -1.5 | 28.1 | 13.4 |
| Castrol India Ltd. | 197.7 | 19558.9 | 18.4 | 1.7 | 3.1 | 50 | 28 | 5788.9 | 6.2 | 949.9 | 2.4 | 10.7 | 11.1 |
| Gulf Oil Lubricants India Ltd. | 1089.9 | 5401.1 | 14.4 | 10.2 | 1.2 | 22.6 | 11.5 | 4153.7 | 11.4 | 347.6 | -3.4 | 75.7 | 1.4 |
Annual
Balance Sheet
Ratios
Cash Flow
Axiom Gas Engineering annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
Nested row level
Base Level
Reporting Type
Standalone
Cell Data
Actual
Table Settings
YoY & New to Old
CAGR Columns
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Nested row level
Base Level
Export
| Indicator | Graph | Mar '26 | Mar '25 | Mar '24 |
|---|---|---|---|---|
| 100.8 | 89.9 | 74.5 | ||
Operating Exp. Ann. | 85.3 | 76.6 | 64.5 | |
Operating Profit Ann. | 15.5 | 13.3 | 10 | |
OPM Ann. % | 15.36% | 14.79% | 13.43% | |
| 88.1 | 79.5 | 66.9 | ||
EBITDA Ann. | 15.5 | 13.3 | 10 | |
EBITDA Ann. margin % | 15.38% | 14.80% | 13.43% | |
Interest Ann. | 1.6 | 1.9 | 1.5 | |
Depr. | 1.2 | 1.1 | 0.8 | |
PBT Ann. | 12.7 | 10.4 | 7.7 | |
Tax Ann. | 3.2 | 2.6 | 2 | |
| 9.5 | 7.8 | 5.7 | ||
Net Profit Ann. | 9.5 | 7.8 | 5.7 | |
NPM Ann. % | 9.38% | 8.62% | 7.70% | |
EPS Adj. latest Ann. | 2.7 | 2.2 | 1.6 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
12.1%
2Y CAGR
16.3%
Net Profit Ann.
1Y CHG
21.8%
2Y CAGR
29.1%
Operating Exp. Ann.
1Y CHG
11.4%
2Y CAGR
15%
Axiom Gas Engineering INFORMATION ON IPO ISSUE
About Axiom Gas Engineering
Axiom Gas Engineering was incorporated on August 24, 2007. The company distributes and retails Auto Liquefied Petroleum Gas (LPG) through its network of company-owned and operated Auto LPG Dispensing Stations. It also operates storage and allied infrastructure to support the efficient distribution and supply of Auto LPG
Object of the Issue
- Capital expenditure
- Prepayment or repayment of a portion of certain outstanding borrowings availed by the company
- General corporate purposes
Axiom Gas Engineering - PROMOTERS
| Name |
|---|
| Alpeshkumar Naginbhai Patel |
| Kinnari Alpeshkumar Patel |
| Sadique Abdul Kadar Banani |
| Asma Mohamad Sadique Banani |
Axiom Gas Engineering - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Asma Mohamad Sadique Banani | Joint Managing Director |
| Nikhil Tiwari | Managing Director |
| Mehul Pravinchandra Talati | Independent Director |
| Darshan Suresh Chandan | Independent Director |
| Sivagiri Srinivasan | Independent Director |
Axiom Gas Engineering Book Running Lead Manager
SKI Capital Services Limited
agel@skicapital.net
Axiom Gas Engineering Registrar to the Offer
KFin Technologies Limited
agel.ipo@kfintech.com
Axiom Gas Engineering Strengths
Diversification & operational reach
The company operates a network of owned and operated Auto LPG dispensing stations supported by associated storage infrastructure. Its presence across three states provides geographic diversification of demand and supply, supporting operational reach and business resilience
Strength
Value chain compliance advantage
The company’s integrated activities from procurement to retail sale provide greater operational control across key value-chain stages. Established compliance processes for Auto LPG handling, storage and dispensing, including applicable PESO permissions and petroleum rules, help minimise regulatory issues and operational interruptions
Strength
Axiom Gas Engineering Risks
Accident or mishap risks
The company’s LPG operations are exposed to risks of leaks, fires, explosions and infrastructure damage arising from equipment failure, pipeline damage, adverse weather and other incidents, particularly given the presence of facilities near populated areas. Such incidents could cause injuries, fatalities, property damage, environmental pollution, legal liabilities and operational disruptions, resulting in adverse publicity, higher costs and an adverse impact on the company’s business, financial condition and cash flows
Risk
Fixed cost & underutilisation risk
The company incurs significant fixed costs for operating its storage and dispensing infrastructure, including depreciation, rentals, utilities, safety compliance, maintenance, insurance and staffing, which may not decline proportionately during periods of lower demand. Prolonged under-utilisation could increase per-unit costs, result in negative site-level EBITDA, asset impairment or site closures, and lead to additional penalties, decommissioning costs and write-offs, adversely affecting the company’s financial performance and financial condition
Risk
Competition
The company faces competition from existing fuel retailers, new Auto LPG Dispensing Station (ALDS) operators and alternative fuels such as CNG, EV charging and hybrid mobility solutions, which may pressure sales volumes and margins. Larger and established competitors may have advantages in brand recognition, customer loyalty, pricing flexibility and locations, while new entrants could dilute volumes and intensify price competition, adversely affecting the company’s revenue and profitability
Risk
IPO FAQs
The promoters of the company are Alpeshkumar Naginbhai Patel, Kinnari Alpeshkumar Patel, Sadique Abdul Kadar Banani and Asma Mohamad Sadique Banani.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 51.0 - 54.0.
The IPO application opens on Sep 18, 2026 and closes on Sep 22, 2026.
The minimum lot size for the IPO is 4000. The maximum lot size for the IPO is 4000.
For all category investors, the minimum application amount for this IPO is Rs. 204,000.0, the maximum value for this IPO is Rs 216,000.0.
This IPO will be allotted on Sep 23, 2026.
The refund will be credited to your account on Sep 24, 2026.
The allotted shares will be credited to your demat on Sep 24, 2026.
Axiom Gas Engineering Ltd.’s shares listed on the stock exchanges on Sep 25, 2026.